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Politics : Formerly About Advanced Micro Devices
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To: SilentZ who wrote (586431)9/20/2010 5:08:54 AM
From: Tenchusatsu  Read Replies (1) of 1574493
 
Z, > So people who made $260K in a year after Obama raised that bracket by 3% would have to pay an extra $300. Big deal.

That's a red herring. You could argue for raising the top income tax bracket by 20 percentage points that way. "People who made $260K in a year after Obama raised that bracket by 20% would have to pay an extra $2,000. Big deal."

Basically you're taxing "windfalls." That has never been an effective tool for "spreading the wealth" in all of history. But it does lead to very inconsistent tax revenues, which doesn't fit the needs of government very well.

Tenchusatsu
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